Question Video showcasing mining factory with NVIDIA GeForce RTX 3070 Founder’s Edition

[nicalandia]

With Miners Hoarding all of these GPUs I guess my old APU would have to chug along for a few more years then. I refuse to pay a cent over MSRP

Twitter user releases video showcasing mining factory with NVIDIA GeForce RTX 3070 Founder's Edition GPUs sold on the "back end"

Twitter video from a user showcases the vast amount of RTX 3070 Founders Edition GPUs, on top of several others, for his own personal gain.

wccftech.com

 

[VirtualLarry]

That's a really slanted and biased article, im-plying two things, that re-sold gaming GPUs that hae been mined on are essentially worthless to gamers (NOT true), and that securing a supply of GPUs direct from the mfg (in this case, Nvidia themselves, since these were 3070 FE cards), is somehow "less than legal" (nonsense!).

 

[SAAA]

End of mining can't come soon enough. It's almost like in a digital world we had to come up with that exploitive concept of mass resources depletion that is real mining... scrape till the last spot/barrel left is profitable.

Anyway I would have liked just one of those, now chugging along with old but decent 1070 till 4000s or whatever generation sees human prices (and availability) again.

PS: I was just thinking how PC gamers got all those deals and extremely cheap games... only to be ripped off on new rigs! xD

 

[VirtualLarry]

Just remember, the Bible says not to covet your neighbor's (miner's) donkey (GPU).

 

[NTMBK]

Ban crypto

 

[Ajay]

Yeah, saw that video yesterday. That's only 1/4 of his mining operation shown in the video. Impressive, but I wouldn't want to be paying his electric bill

That said, POS cannot not come faster enough to Ethereum. Also, why aren't there dedicated ASICs for mining Ethereum yet, as happened with Bitcoin?

 

[VirtualLarry]

That said, POS cannot not come faster enough to Ethereum. Also, why aren't there dedicated ASICs for mining Ethereum yet, as happened with Bitcoin?

There are, that's why difficulty is spiking so hard.

 

[Ajay]

There are, that's why difficulty is spiking so hard.

Wow, the hash rates are insane! Why even bother with a GPU??

 

[VirtualLarry]

Wow, the hash rates are insane! Why even bother with a GPU??

Because ASIC mining is a worse rabbit-hole to go down even more than GPU-mining.

 

[Ajay]

Because ASIC mining is a worse rabbit-hole to go down even more than GPU-mining.

Because of the lack of resale?

 

[VirtualLarry]

Because of the lack of resale?

And even more scalping than GPUs, and a lot more outright scam-sellers. (To buy an ASIC, you have to pay for it in crypto, and pre-order it six months in advance.)

Say what you will about ebay GPU resellers, about their pricing, but at least, they accept Paypal, and you generally get your product, often right away.

Nothing like send $15K in crypto to a shady chinese reseller, waiting six months for the product, and then finding out from others that you've been scammed, with no real recourse.

Welcome to the wild world of ASICs. If you are looking for a qty., for a warehouse, there exist "brokers", who can broker a deal, but it often comes down to who you know, rather than simply being able to afford them.

 

[kognak]

Also, why aren't there dedicated ASICs for mining Ethereum yet, as happened with Bitcoin?

Because they have to tap in same pool of memory chips as GPUs and small ASIC miner builders aren't exactly premium customers in world of supply issues. I don't think a large portion of ETH mining is done with ASICs, GPUs vastly outnumber them. If they didn't, ASIC makers would have sales worth of billions. It's certain green company who does.

This is one of the 24 boards in Innosilicon A10 pro miner(500MH/s). It has 5GB(3x1GB+2GB) of GDDR6. Board is around 20MH/s, so not really much different than a small GPU in same MH/s class. They are more energy efficient but with expiration date they are risky investments. This model is dead around Oct. 2022 when DAG size goes over 5GB. Newer ones have bigger memory capacity but PoS merge is still looming. GPUs are simply way safer and more flexible.

Spoiler

 

[Ajay]

Because they have to tap in same pool of memory chips as GPUs and small ASIC miner builders aren't exactly premium customers in world of supply issues. I don't think a large portion of ETH mining is done with ASICs, GPUs vastly outnumber them. If they didn't, ASIC makers would have sales worth of billions. It's certain green company who does.

This is one of the 24 boards in Innosilicon A10 pro miner(500MH/s). It has 5GB(3x1GB+2GB) of GDDR6. Board is around 20MH/s, so not really much different than a small GPU in same MH/s class. They are more energy efficient but with expiration date they are risky investments. This model is dead around Oct. 2022 when DAG size goes over 5GB. Newer ones have bigger memory capacity but PoS merge is still looming. GPUs are simply way safer and more flexible.

Spoiler

Thanks for the informative post! And welcome to ATF!

 

[ultimatebob]

Ya know, I normally don't like to wish ill will on people. That said, I wouldn't be all that sad if his crypto farm caught on fire and he lost all of those graphics cards.

Also, I'd like to extend my middle finger who the graphics card manufacturer who sold him those cards instead of giving them to a retailer.

 

[DisarmedDespot]

PoW is weird.

If you allow ASICs, you speed up centralization, and generate a bunch of e-waste as once that purpose-built hardware is no longer profitable there's genuinely no use for it.

If you go for ASIC-resistance, you're accepting the network is going to be less efficient than it could be, and as that mining farm above shows, hashing power is still gonna be centralized.